The rising tension between Elon Musk and President Donald Trump has entered a new phase—just as the crypto market plunges. In the last 24 hours, more than $1 billion was wiped out in liquidations, while Bitcoin’s price dropped to a critical psychological level of $100,000.


📉 Bitcoin Loses Momentum, Altcoins Tumble Even Harder

Bitcoin fell 4%, while altcoins like Ethereum (ETH), Dogecoin (DOGE), Binance Coin (BNB) and Solana (SOL) dropped as much as 8%. Ethereum, in particular, suffered a sharp sell-off, briefly touching $2,400, with daily liquidations exceeding $260 million.

Dogecoin also took a significant hit—an 8% drop that came just as Musk’s company SpaceX announced it will phase out its Dragon spacecraft, a direct response to Trump’s threat to cancel federal contracts.


📊 Institutional Investors Retreat

While BTC’s trading volume surged by 35%, spot Bitcoin ETFs showed the opposite trend—$278 million in outflows, signaling shaken confidence among large investors. This sell-off came despite expectations of fresh liquidity tied to the so-called “Beautiful Spending Bill.”


💥 Political Drama: Trump vs. Musk

The feud between these two influential figures reached a boiling point. Musk openly criticized the federal budget plan, prompting President Trump to threaten a review of all government contracts involving Musk’s businesses. SpaceX responded swiftly by pulling the plug on Dragon operations.

Elon escalated matters further by suggesting that Trump may be named in the unreleased Epstein files—fueling not just political controversy but also triggering broader market anxiety.

📌 Summary

A combination of macroeconomic uncertainty, political tension, and government policy risks has spilled over into the crypto markets, triggering a sharp sell-off. As confidence erodes, key assets like Bitcoin and Ethereum are searching for a new support level—with investors left on shaky ground.




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